Eden Research reports strong growth and new product introductions in 2023
–News Direct–
Eden Research PLC CEO Sean Smith tells Proactive's Stephen Gunnion the company achieved significant advancements and a robust performance in 2023.
Revenue for the year to 31 December 2023 increased by 78% to 3.2 million, surpassing market expectations. This growth was attributed to strong sales across various product lines.
A noteworthy development was a successful fundraising event that raised 9.9 million, enhancing the firm's cash position and enabling further product development.
In partnership with Corteva Agriscience, Eden introduced Ecovelex, a new seed treatment product designed to repel birds from maize, marking a new category for the company. This product received temporary approval in Italy, facilitating its use in the 2024 growing season.
Additionally, Eden expanded its product range to include an insecticide targeting pests like mites and aphids, which has undergone extensive field testing with over 140 trials worldwide.
Regulatory approvals for Mevalone were a significant focus, with expansions in the US including crucial approval in California, important for the grapevine fungicide market.
Looking forward, Smith said the company is optimistic about 2024, despite potential challenges from climate conditions and regulatory dependencies. Key future developments include ongoing product label expansions and regulatory authorisations, particularly in Europe.
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View source version on newsdirect.com: https://newsdirect.com/news/eden-research-reports-strong-growth-and-new-product-introductions-in-2023-502240609
Eden Research PLC
COMTEX_452113459/2655/2024-05-09T07:41:04
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